JDA is always considered as a grey area under GST, as many experts have different view on this transaction. But sale of land is very clear aspect, covered under schedule III of CGST Act,2017, which specify that selling of land does not attract GST as it is treated neither treated as supply of goods nor…
Month: May 2020
GST on Supply of Water
Water is classified as an essential & supply of the same is exempt through notification no 2/2017- Central Tax Rate dated 28th June,2017. The relevant extract is as under: S. No. Heading Description of Goods Rate (%) Condition 99 2201 Water (Other than aerated, mineral, purified, distilled, medicinal, ionic, battery, de-mineralised and water sold in…
Relaxations in Income Tax Provisions on account of Covid-19 (post March 2020 ordinance)
Covid-19 has created a havoc worldwide and people are struggling hard to barely survive in this uncertain environment. People are stranded in different parts of the world on account of lockdown, quarantine and suspension of travel both domestic and international. Due to this, people are facing difficulties even in completing their tax compliances under the…
